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    Bank of Canada Foreign Transfer Rates Today

    We help you save money by comparing Bank of Canada exchange rates to the latest market rate and those offered by leading FX providers.

     

    The Bank of Canada

    The Bank of Canada (BOC) is Canada's central bank. The role of central banks is to preserve the value of money by keeping inflation low and stable. They do this by controlling the interest rate at which banks can borrow.

    Interest rates, inflation, and exchange rates are all intrinsically linked. When the BOC manipulates interest rates this impacts both the inflation in Canada and also the relative value of the Canadian dollar compared to other currencies.

    Read our guide to the Relationship between Interest Rates and Currencies.

     

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    Sending money to Eurozone can be an expensive business, more so if you aren’t even aware of all the hidden fees. Money transfer companies and banks profit by charging you fees and a normally hidden margin on the exchange rate.

    Using your Bank to make international wire transfers to India can be especially expensive – often 5% to 10% worse than using a foreign exchange specialist to send to Eurozone bank accounts or pay a Euro invoice.

       

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